Three Fitzroy Street, St Kilda properties with tenancies sold

Three freehold buildings with land bank potenial along St Kilda’s iconic restaurant and lifestyle precinct and with views across Port Phillip Bay have sold recently.

The three properties at 7, 9 and 11-15 Fitzroy Street are tenanted. 

There is also scope for their re-development, subject to council approval.

The total land area is 1,335 square metres.

The rents from the three properties are as follows:

• 7 Fitzroy Street: Rent $111,508 per annum plus outs and GST. Restaurant and residence.
• 9 Fitzroy Street: Rent $161,820 per annum plus outs and GST. Ground floor Restaurant and three separate apartments.
• 11 – 15 Fitzroy Street: Rent: $428,045, per annum plus outs and GST. Three-level building with three ground floor commercial tenancies plus 10 apartments.

The selling agents were David Bourke and Mark Talbot of Fitzroys.

They are located close to Circa/Prince, Upper Esplanade, Catani Gardens and complimented with uninterrupted views across Port Phillip Bay.

The properties were first advertised for sale by expressions of interest closing October 6, 2016. 

11-15 Fitzroy Street was being marketed for its redevelopment potential as it is located in the restaurant precinct and has north-facing views over Catani Gardens.